Blockchain is becoming more popular in the public sector, even though it’s still a new technology. California’s Department of Motor Vehicles has teamed up with Oxhead Alpha and the blockchain Tezos to create a new crypto-firm.
A dedicated blockchain system that allows car titles and other vehicle-related information will be created together will be developed.
Moving on to the Blockchain
This initiative aims to speed up processes such as title transfers. It is fitting considering the DMV’s reputation as a slow and bureaucratic institution.
span style=”font weight: 400 The DMV’s perception that it is behind should change,” stated Ajay Gupta (chief digital officer at California DMV), adding that although the project was started years ago, it has stalled because of the COVID-19 pandemic.
Andrew Smith, president of Oxhead Alpha, highlighted the many benefits this initiative will bring to users. This type of data is stored on a blockchain so that people are less likely to be tricked into purchasing substandard vehicles. This partnership will produce a private blockchain with a higher level of security than public blockchains. Customer-facing applications may even be included in the cards.
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NFT Plazas’s California DMV Uploads NFT Car Titles to the Blockchain